VfB Stuttgart manage to reduce debts

The UEFA Cup participants made a surplus of €985,000 in 2004, helping to lower the clubs’ overall debts to €8.21 million by 31 December 2004. Improved marketing activities which helped the club find new sponsors and the €4m transfer of Brazilian defender Marcelo Bordon to Schalke 04 were the main reasons for the increase.

The four-time champions had been plagued by debts of around €20m five years ago, but are now hopeful that they are on the verge of completing their financial recovery. “It’s great to be able to say for the first time that we do have money,” declared financial director Ulrich Ruf, who stressed that the published numbers do not include the €22m the club earned in summer 2005 by selling Alexander Hleb to English Premier League club Arsenal and Kevin Kuranyi to Bundesliga side FC Schalke 04.